Northwest Capital Management Inc bought a new position in shares of General Electric (NYSE:GE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,923 shares of the conglomerate’s stock, valued at approximately $191,000.
Other hedge funds also recently made changes to their positions in the company. KCS Wealth Advisory bought a new stake in shares of General Electric during the fourth quarter worth approximately $183,000. Broadleaf Partners LLC bought a new stake in shares of General Electric during the fourth quarter worth approximately $195,000. Chicago Equity Partners LLC bought a new stake in shares of General Electric during the fourth quarter worth approximately $195,000. Barber Financial Group Inc. bought a new stake in shares of General Electric during the fourth quarter worth approximately $196,000. Finally, First United Bank Trust raised its stake in shares of General Electric by 31.2% during the fourth quarter. First United Bank Trust now owns 11,596 shares of the conglomerate’s stock worth $202,000 after buying an additional 2,760 shares during the last quarter. Institutional investors own 55.96% of the company’s stock.
Shares of NYSE:GE opened at $15.03 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.76 and a debt-to-equity ratio of 1.44. General Electric has a 52 week low of $14.70 and a 52 week high of $14.95. The company has a market capitalization of $130.50 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 2.92 and a beta of 1.02.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, April 20th. The conglomerate reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.05. General Electric had a negative net margin of 6.16% and a positive return on equity of 11.22%. The company had revenue of $28.66 billion during the quarter, compared to the consensus estimate of $27.26 billion. During the same quarter in the prior year, the firm earned $0.14 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. research analysts anticipate that General Electric will post 0.96 EPS for the current year.
In other news, major shareholder Electric Co General sold 3,883,000 shares of the stock in a transaction on Tuesday, April 24th. The shares were sold at an average price of $15.00, for a total transaction of $58,245,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.12% of the stock is owned by corporate insiders.
A number of equities research analysts recently weighed in on GE shares. Morningstar set a $23.50 price target on shares of General Electric and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Citigroup dropped their price target on shares of General Electric from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. JPMorgan Chase set a $11.00 price target on shares of General Electric and gave the stock a “sell” rating in a research note on Friday, April 27th. Cowen reissued a “market perform” rating and set a $15.00 price target (down from $17.00) on shares of General Electric in a research note on Monday, February 26th. Finally, UBS started coverage on shares of General Electric in a research note on Tuesday, January 23rd. They set a “neutral” rating and a $17.00 price target for the company. Seven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.92.
About General Electric
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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